Hanscom Federal Credit Union in Bedford, Massachusetts, has chosen Peter Rice as its new president and CEO.
Rice, who was most recently senior vice president and chief banking officer at Workers Credit Union, succeeds David Sprague, who
Sprague led the $1.8 billion-asset organization for 25 years. He will remain as a member of the board, taking over a vacant position, the credit union said in a press release Thursday. Rice becomes the fifth president and CEO in the credit union’s 68-year history.
“Peter’s years of senior-level experience in the banking industry, his sharp mind and his forward-thinking ideas are the ideal fit for the vision of where we want to be in the coming years,” Hanscom FCU’s board chairman, John Delcore, said in the press release.
Rice has nearly 20 years of experience in the financial services industry and has held various executive-level positions. At Workers, he was responsible for developing, implementing, and leading a relationship/financial wellness strategy for members across key lines of business.
“This is a credit union that’s member focused rather than transaction focused,” Rice said in the press release. “With Hanscom, there’s a commitment from top leadership on down to educate [and] to give members the tools, products, and resources that get them in the best position to succeed financially.”
Hanscom FCU earned nearly $14 million in 2021, a 62% increase from a year earlier, according to call report data from the National Credit Union Administration.
